Compensation Benefits and Expenses Sample Clauses

Compensation Benefits and Expenses. During the term of Executive's employment with the Company, Executive shall receive an annual base salary of not less than three hundred fifty thousand dollars ($350,000) ("Annual Base Salary"), which shall be paid in accordance with the customary payroll practices of the Company. In addition, Executive shall be entitled to receive an annual bonus ("Annual Bonus") of up to one hundred fifty thousand dollars ($150,000) upon achievement of performance criteria as shall be established by the CEO and the Board of Directors of the Company (the "Board") or the Compensation Committee thereof. Notwithstanding the above, it is expected that Executive's Annual Base Salary and Annual Bonus target will be increased by the Board upon the consummation of the transactions contemplated by the Agreement and Plan of Reorganization and Merger among Aurora Foods Inc. and Crunch Equity Holding, LLC, dated as of November 25, 2003 (collectively, the "Aurora Transaction"), in light of Executive's additional duties and responsibilities as a result of the Aurora Transaction. The Board will consider such increases at or immediately following the consummation of the Aurora Transaction. (i) During the term of Executive's employment with the Company, Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other executives of the Company and the Operating Company ("Investment Plans"). (ii) During the term of Executive's employment with the Company, Executive and his family shall be eligible for participation in and shall receive all benefits under, welfare benefit plans, practices, policies and programs applicable generally to other executives of the Company and the Operating Company, including but not limited to comprehensive medical and dental coverage, disability and basic and supplemental life insurance ("Welfare Plans"). (iii) Except to the extent that such are changed pursuant to a general change in benefits applicable generally to other executives of the Company and the Operating Company, during the term of Executive's employment with the Company, the Company shall continue to provide Executive with at least the same benefits provided to Executive by the Company and the Operating Company prior to the Effective Date ("Other Benefits"). (iv) During the term of Executive's employment with the Company, Executive shall be entitled to receive prompt reimbursement for all reasonable expenses asso...

Compensation Benefits and Expenses. During the Term, Company shall compensate Employee for his services as follows:

Compensation Benefits and Expenses. During the Term, the Bank shall compensate the Executive for his services as provided in this Section 3. Unless otherwise determined by the Company Board, all payments and benefits provided in this Agreement shall be paid or provided solely by the Bank. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall be construed so as to result in the duplication of any payment or benefit. Unless otherwise determined by the Company Board, the Company’s sole obligation under this Agreement shall be to unconditionally guarantee the payment and provision of all amounts and benefits due hereunder to Executive, and the affirmative obligations of the Company as set forth at Section 3(h), herein, with respect to Indemnification, and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

Compensation Benefits and Expenses. During the Term and before the Termination of his Employment, the Company shall compensate (or cause the Bank to compensate) the Executive for his services as follows:

Compensation Benefits and Expenses. Subject to the provisions of this Employment Agreement, the Company shall pay and provide the following compensation and other benefits to the Employee during the Term as compensation for services rendered hereunder:

Compensation Benefits and Expenses. As full compensation for all services to be rendered by the Executive to the Company and its Affiliates in all capacities, the Executive shall receive the following compensation, benefits, and reimbursement of expenses during the Term:

Compensation Benefits and Expenses. (a) As compensation for the services to be rendered by you pursuant to this agreement, the Company hereby agrees to pay you at a Semi-Monthly Rate equal to Ten Thousand Four Hundred Sixteen Dollars and Sixty-Seven Cents ($10,416.67). The Semi-Monthly Rate shall be paid in accordance with the normal payroll practices of the Company. (b) You shall be entitled to participate in annual incentive compensation plans, if any, that may be adopted by the Company from time to time and that are afforded generally to persons employed by the Company at your position level (subject to the terms and conditions of any such annual incentive compensation plans). Should such an annual incentive bonus plan be adopted for any annual period, your target annual incentive compensation opportunity will be as established by the Company for each annual period, which may be up to 55% of your annualized rate (i.e., 24 X Semi-Monthly Rate) based on achievement of objectives specified by the Company each annual incentive compensation period (which may include Company-wide performance objectives, divisional or department performance objectives, individual performance objectives and/or subjective performance evaluations, allocated between and among such performance objectives and evaluations as the Company may determine in its sole discretion). Specific annual incentive compensation plan details, target incentive compensation opportunity and objectives for each annual compensation plan period will be set forth in written documents provided to you by the Company. Awards under annual incentive plans may be prorated for a variety of factors, including time employed by the Company during the year, adjustments in base compensation or target award percentage changes during the year, and unpaid leaves. You understand that the Company’s annual incentive compensation plans, their structure and components, specific target incentive compensation opportunities and objectives, and the achievement of objectives and payouts, if any, thereunder are subject to the sole discretion of the Company’s Board of Directors, or a committee thereof. (c) You shall be entitled to participate in such ordinary and customary benefits plans afforded generally to persons employed by the Company at your level (subject to the terms and conditions of such benefit plans, your making of any required employee contributions required for your participation in such benefits, your ability to qualify for and satisfy the requirements...

Compensation Benefits and Expenses. (a) During the term of the Employee's employment pursuant to this Employment Agreement, the Employee shall be paid a base annual salary of $260,000 (the "Base Pay"). Payment will be made on the regularly scheduled pay dates of the Employer, subject to all appropriate withholdings or other deductions required by law or by the Employer's established policies applicable to all the Employees of the Employer. The Employer may increase the Employee's Base Pay at the Employer's sole discretion, but shall not reduce the Base Pay below the rate established by this Employment Agreement without the Employee's written consent. (b) In addition to any other compensation payable to the Employee pursuant to this Employment Agreement, during the term of the Employee's employment pursuant to this Employment Agreement the Employee may be paid an annual bonus as determined by and within the sole discretion of board of directors of the Company. (c) The Employee's services hereunder shall be performed at the principal offices of the Employer in the Atlanta, Georgia metropolitan area, subject to travel that is consistent with prior practice of the Employee. (d) In addition to compensation payable to the Employee as described above, the Employee shall be entitled to participate in all the employee benefit plans or programs of the Company as are available to management employees of the Employer generally and such other benefit plans or programs as may be specified by the Board of Directors, including any stock options that may be granted by the board of directors of the Company ("Employee Benefits"). Employee Benefits provided the Employee will be no less favorable in the aggregate than those benefits of the Employer in which the Employee was enrolled immediately prior to the Effective Date. With respect to the Employee, the Employer and the Company hereby waive any applicable waiting period for the Employee Benefits. (e) On a timely basis, the Employer shall reimburse the Employee for such reasonable out-of-pocket expenses as the Employee may incur for and on behalf of the furtherance of the Employer's business, provided that the Employee submits to the Employer satisfactory documentation or other support for such expenses in accordance with the Employer's expense reimbursement policy.

Compensation Benefits and Expenses. For all services to be rendered to the Corporation or any affiliate thereof in any capacity, including services as an officer, director, member of any committee or otherwise, so long as the Employee is employed by the Corporation pursuant to Section 2(a) or as otherwise set forth in Section 2(c) or the last sentence of Section 2(d): (a) The Corporation shall pay the Employee a salary at the initial rate of HK$913,000 per year (the "Base Salary"). Such salary shall be payable in installments, less any usual payroll deductions, in accordance with prevailing payroll practices of the Corporation from time to time. The Board of Directors shall review the Employee's compensation and benefits at least once each year and may in its sole discretion and absolute increase the Employee's Base Salary and benefits over those provided for hereunder; provided, however, that in any case the Base Salary shall be increased each year (effective as of January 1) by an amount at least equal to any increase in the Consumer Price Index (B) for All Items compiled by the Consumer Price Index Section of the Census and Statistics Department of the Hong Kong Government (or by any Hong Kong Government department upon which duties in connection with such index shall have devolved). Other than as provided in this Agreement, in no event may Employee's compensation or benefits be decreased by the Board of Directors except to the extent that such benefits (other than Base Salary) are provided to other employees and such employee benefits are similarly generally reduced. (b) The Employee shall be entitled to receive such bonuses, and advances against such bonuses, as are described in Section 9.02 of the Acquisition Agreement as being allocable to him. (c) The Employee shall be entitled to the fringe benefits generally made available to the executives of Recoton of the rank equal to the Employee prior to this Agreement (including vacation, holidays, insurance, medical benefits, automobile and professional training) to the extent that such benefits may be legally extended to him, but the Corporation shall be under no obligation to include him in any stock option, profit sharing plan or bonus program, in light of the bonus referred to in Section 3(b). He shall continue to receive the same automobile benefits which he received prior to execution of this Agreement. (d) The Employee's place of work, when not engaged in business travel, shall be such place as the Corporation may reasonably specify ...

Compensation Benefits and Expenses. While employed by the Company during the Term, Executive will be provided with the following compensation and benefits: